Monetary Policy Drivers of Bond and Equity Risks

Preprint, Article OPEN
Luis Viceira ; Carolin Pflueger ; John Campbell (2014)
  • Publisher: National Bureau of Economic Research

The exposure of US Treasury bonds to the stock market has moved considerably over time. While it was slightly positive on average in the period 1960-2011, it was unusually high in the 1980s and negative in the 2000s, a period during which Treasury bonds enabled investor... View more
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